Labor housing policy gives government ‘strings on everybody’s personal investment’

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Liberal Senator Amanda Stoker says Labor’s ‘Help to Buy’ scheme is “really dangerous”.

Labor announced a new shared equity initiative at the party’s campaign launch on Sunday, which would give eligible participants a commonwealth equity contribution of up to 40 per cent for the purchase of a new home, and 30 per cent for an existing one.

“What we know, from hundreds of years of observing the way that different governments work, is that governments don’t deal very well in parts of the community that are better managed by the market,” Ms Stoker said.

“They’re better able to adapt to local circumstances, they’re better able to meet the needs of the wide range of different things that people in our community are looking for.

“The idea that people might be beholden to a government for their most core type of financial security – that is their own home – is a little bit dangerous.

“Making sure the government has the strings on everybody’s personal investment is, I think, really quite worrisome.”